FILE - In this Wednesday, Nov. 20, 2013, file photo, the Apple logo is illuminated in the entrance to the Fifth Avenue Apple store, in New York. (Mark Lennihan/AP Photo)

Today: Apple reaches new 52-week highs despite reports that the iPhone 6 could be delayed and the iWatch may not be a "watch" at all. Also: Riverbed Technology and Harmonic plunge after revealing disappointing quarters.

Apple reached its highest intraday and closing prices since 2012 on Monday -- after adjusting for its recent 7-for-1 stock split -- and closed with a 1.3 percent gain at $96.45, but an analyst reported that an upcoming iPhone may face production issues. KGI securities analyst Ming-Chi Kuo wrote in a note that Apple faces difficulties producing a new, larger version of the iPhone set to be released later this year, which could push the device's debut back to 2015.

"Even if the product is launched in 2014, it is likely to take place after mid-4Q14, which is later than the September-October of consensus, with shipments being lower than consensus of 15-20 million units," Kuo wrote.

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The other star of Apple's expected product launch will not be what many people expect, Jackdaw Research founder and analyst Jan Dawson wrote in a blog post. Instead of a smartwatch with an interactive display, like the ones Google showed off recently, Apple's move into wearables will consist of sensors with the main function of communicating back to users' smartphones, and will be offered in a variety of form factors instead of just as wrist jewelry.

"It's easy to imagine some that would be wrist-worn, others that could be clipped to clothing or worn around the neck," Dawson wrote. "And unlike many of the fitness trackers out there today, which are hidden under clothing, at least some of these could be proudly worn outside clothing, which explains the significant investment Apple is making in hiring people with fashion-related expertise."

"We believe Tim Cook has solidified his strategy and regained the confidence of Apple stakeholders in many ways — reversing many of the warning signs we saw earlier in the year," Reitzes, who downgraded the stock in February, wrote in Monday's note.